Why Real Estate is Great to Enter with a Partner
Blog, Real Estate
May 16, 2019 |
Being a real estate agent provides the opportunity to help people achieve their dreams of homeownership. It can be a very rewarding, lucrative profession. But when first starting out, success can be difficult for agents to achieve on their own – this is why many of them join real estate teams. Here’s why joining a real estate team can be so beneficial for an agent.
Have Help When Needed
There are many factors that come into play when selling a home or when helping a buyer purchase one. Real estate agents must know facts and logistics about the area, the home, and the rules for the area where the home is being sold or purchased. Working with a real estate team gives you access to knowledge that the senior agents possess. You can ask questions when needed and get advice if something goes awry. Working with a team of agents also allows you to have help along the way. The other agents can help field calls when you’re out of the office, meet with buyers or sellers if emergencies arise, or while you are out of the office for a vacation or family event.
Have a Name in the Community
Senior agents often have a rapport within the community because have worked with numerous homebuyers and sellers to build a strong presence When you are first starting out, it can be difficult to get people to depend on you because they don’t know if you are well suited for the job. Working with a team that people in the community already know can be a great way to get your foot in the door with potential buyers and sellers.
Have Access to Multiple Areas
Real estate agents use the Multiple Listing Services, or MLS to find and list houses that are for sale. Unfortunately, agents are limited to the number of MLS that they have access to. Being a part of a real estate team allows you to have access to multiple MLS because you can access some of your own, while other agents can have access to other jurisdictions in the neighboring areas. Within a team, it’s possible to have access to every MLS that is available rather than limited to just one or two on your own.
Commission Splits Can Increase Your Income
When you join a real estate team, it often provides you with access to a more lucrative income. Teams participate in commission splits where the agents work together to sell a home and the commission is split fairly based on how the work is divided. When you are first starting out, doing all of the work yourself can be time-consuming and not very lucrative. When you work with a team, you will more than likely have consistent work, even if it’s just helping other agents and be able to have money coming in constantly through a commission split.
It’s best to join a real estate team that has a good rapport with the community. Take the time to do research and find out what the stipulations are in place when it comes to joining a team. You want to be sure that you work with a team that is fair, has a history of success, and a low turnover rate. You want to be sure you enjoy the people that you work with and that you can make a good living the team you join.